NEC Unveils Roadmap to Achieve $1tn Economy by 2030
By Momodu Favour
Nigeria’s push to grow its economy to $1 trillion by 2030 received a fresh boost at the second National Economic Council (NEC) Conference, where federal and state leaders agreed on a coordinated strategy focused on grassroots development, fiscal reforms, domestic production and investment in human capital.
The two-day conference, held from February 9 to 10 at the Presidential Villa in Abuja, ended with the adoption of policy recommendations designed to drive inclusive growth and deliver measurable results across key sectors.
The meeting, convened by the NEC Secretariat under the Federal Ministry of Budget and Economic Planning, attracted more than 350 participants.
Among those in attendance were President Bola Ahmed Tinubu, Vice President Kashim Shettima, state governors, ministers, members of the National Assembly, development partners, private sector operators and representatives of the media.
Discussions centred on strengthening coordination between the federal and state governments to accelerate reforms and unlock productivity at the subnational level.
Participants stressed the need to boost agriculture and manufacturing, improve infrastructure, deepen fiscal discipline and expand access to quality education and healthcare.
Speakers at the conference emphasised that achieving a $1 trillion economy would require consistent policy implementation, improved revenue generation, and a stable macroeconomic environment.
They also highlighted the importance of empowering small and medium-scale enterprises, expanding digital innovation and promoting local value chains to reduce import dependence.
The council underscored the role of states as drivers of economic expansion, urging governors to align development plans with national priorities while leveraging local resources and comparative advantages.
Stakeholders also called for stronger public-private partnerships to mobilise investment into critical sectors such as energy, transportation, housing and technology.
While acknowledging the scale of the target, participants maintained that with coordinated reforms and sustained commitment, Nigeria could significantly expand its economic base within the next five years.
The resolutions reached at the conference are expected to guide policy direction at both federal and state levels as the country works towards its 2030 economic ambition.
